The Euro US Dollar (EUR/USD) exchange rate is trading mildly southwards at the start of the week, after falling -0.5% across the previous week. The pair is holding above US$1.1830.
German industrial production increased just 1.2% mom in July, down from +9.7% in June, adding to fears that the economic recovery in the largest economy in the Eurozone is losing momentum. Attention will now turn to the Eurozone investor confidence data due later today.
The US Dollar is well supported after Friday’s jobs report showed that unemployment fell by more than forecast to 8.2%. The US is closed today for Labour Day public holiday.
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